Ramaco Resources Enters New Marketing Arrangement with Square Resources
[Click image to enlarge]
Ramaco Resources has entered into an exclusive marketing arrangement with Australia-based Square Resources to market the company’s metallurgical coal into fast-growing Asian steel markets.
“We are delighted to announce this marketing relationship with Square, which is regarded as one of the most aggressive and experienced coal sales groups in the Asian perimeter,” said Ramaco’s Executive Chairman Randall Atkins.
“It has long been a goal of Ramaco to expand our marketing footprint into the fastest growing metallurgical coal markets in the world throughout Asia. We believe we’ve found the perfect partner in Square and view this as a core long-term relationship for our export sales efforts,” added Atkins.
“We have long wanted to enter the U.S. coal market to add to our current Asian marketing metallurgical coal book of over 9 million tons,” said Square’s Founder Staffan Ever.
“However, it has taken us a long time to identify the right U.S. partner, as we’ve always had specific criteria in mind that we’ve been searching for. Ramaco is a low cost, growing producer of quality coals, with a very conservative financial structure, and almost no overlap from a quality perspective with our existing book of business from other regions’ producers. Ramaco is a wonderful fit for us, and will now be our exclusive U.S. partner. We too look forward to working with Ramaco over a long time frame,” added Ever.
“Halfway through 2020, Asian steel production is roughly flat year-on-year, whereas the traditional export markets for U.S. coal are down materially. The contrast between these markets, although hopefully temporary, means that on a long-term basis it is important for our coal to make more inroads into Asia. We are excited to be able to partner with Square, who is an established and successful marketing group in all of the Asian markets,” said Ramaco’s Chief Marketing Officer Jason Fannin.
About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of high-quality, low cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia. The company has five active mines within two mining complexes at this time.
To stop by Ramaco’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2020 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
